2023-07-13
On July 5, 2023, the Managing Director of the Monetary Authority of Singapore (MAS), Ravi Menon, announced that MAS already has tax incentives to encourage SFOs to create jobs, generate demand for domestic service providers and channel capital to enterprises here. Incentives will also be adjusted to deploy their capital more meaningfully to benefit Singapore and the region with enhancements in five areas. MAS will also take additional measures to combat money laundering in the SFO sector, which it identifies as a key risk when it comes to wealth inflows into Singapore. Some 1,100 SFOs – which each handles the […]
2023-07-11
On July 7, 2023, SINGAPORE – As Singapore’s energy transition gains momentum, the clean energy workforce is expected to increase by 80 per cent by 2032, reaching around 2,700 workers. The power sector is also expected to expand by hiring 800 workers – reflecting a 13 per cent growth over the same period – with jobs in electricity transmission and distribution solutions, low-carbon alternatives, solar energy, and smart grids. EMA will continue to foster innovation, digital transformation, and R&D, to develop a future-ready clean energy sector that supports Singapore’s energy transition, unlocks opportunities for local enterprises, and creates quality jobs […]
2023-07-07
On July 4, 2023, SINGAPORE – The national movement to build a culture of lifelong learning will kick into higher gear, boosting training in digital skills and paying greater attention to groups that need more help. Education Minister Chan Chun Sing on Tuesday said SkillsFuture will build on the progress it has made since its launch in 2015, and support skills upgrading at scale and at speed in response to a changing world. One such initiative is Skills Profiler, a digital platform rolled out by SSG in collaboration with JobKred – a Singapore-based start-up that uses big data and artificial […]
2023-07-04
On June 27, 2023, The United Kingdom and Singapore committed to lead new advances on Government use of data and new technologies, with two new agreements to deepen research and regulatory cooperation. The Memorandum of Understanding agreements were signed during UK Deputy Prime Minister Oliver Dowden’s first international visit since his appointment last year, during his meeting with Singapore’s Minister Josephine Teo. They were agreed between the UK’s Department for Science, Innovation and Technology and Singapore’s Ministry of Communications and Information and the Smart Nation and Digital Government Office. FOZL Group provides one-stop corporate services to local and overseas companies, currently […]
2023-06-28
On June 21, 2023, the Monetary Authority of Singapore (MAS) launched a White Paper proposing standards for the use of such digital assets, in order to establish common protocol and conditions for their use. PBMs are a form of tokenised digital currency that is limited in how it can be used. In simple terms, a PBM can be imagined as a voucher of sorts – where users can safely exchange value without directly transferring funds. MAS said that PBM features the use of a common protocol that is designed to work with different ledger technology and forms of money. FOZL Group provides […]
2023-06-27
On June 21, 2023, Singapore’s Ministry of National Development announced the launch of land supply for private housing has been further beefed up for the second half of 2023, taking the total confirmed supply for the year to its highest in a decade. In all, the eight sites on the confirmed list of the Government Land Sales (GLS) programme announced on Wednesday will yield about 5,160 private residential units, including 560 executive condominium (EC) units, and 4,900 sq m gross floor area (GFA) of commercial space. This is a rise of 26 per cent from 4,090 residential units in the first […]
2023-06-26
On June 20, 2023, Singapore has been ranked fourth among the world’s most competitive economies in 2023, according to the latest International Institute for Management Development (IMD) World Competitiveness Ranking. The 2023 ranking assessed the 64 economies based on hard data comprising 164 competitiveness criteria, including economic literature, international, national and regional sources, and feedback from the business community, government agencies and academics. Out of 64 economies assessed, the Republic ranked high in international trade (second), employment (second) and technological infrastructure (third), but was found to be less competitive in terms of price (51st). It was also ranked 23rd in […]
2023-06-21
On June 15, 2023, Siemens is building a new factory in Singapore for its industrial automation and digitalisation products that will create more than 400 jobs locally. Estimated to cost €200 million (S$290 million), the German conglomerate’s plant will begin operation in 2025 or 2026, with Tuas as the likely location. The factory is part of a €2 billion global strategy to expand the firm’s manufacturing capacity worldwide and build innovation labs, education centres and other facilities. Siemens is also expected to increase its research and development spending for the 2023 fiscal year by €500 million to over €6 billion, […]
2023-06-19
On June 14, 2023, the Immigration & Checkpoints Authority (ICA) of Singapore announced that the clearance time per train of passengers at the Woodlands Train Checkpoint has been cut by half to 15 minutes with the introduction of 10 automated immigration kiosks. Self-clearance at the kiosk takes approximately 24 seconds, compared with 45 seconds at the manual counter, ICA said. Those eligible to use the kiosks include Singapore residents, long-term pass holders, and short-term visitors who had previously enrolled under the Automated Clearance Initiative (ACI). Eligible foreign visitors can submit their SG Arrival Card through the MyICA mobile app or […]
2023-06-15
On June 8, 2023, Singapore has launched one of the world’s first standard for optimising energy efficiency for data centres (DCs) in tropical climate countries. Announced by Singapore’s Senior Minister of State, Communications and Information, Dr Janil Puthucheary at ATxEnterprise, the standard comes after a working group comprising domain and technical experts from both industry and academia, as well as government agencies worked on establishing a set of guidelines to enable the operation of DCs at higher temperature settings while optimising energy efficiency. IMDA said cooling systems can account for up to 40 per cent of a data centre’s total […]
2023-06-13
On June 6, 2023, Singapore‘s Deputy Prime Minister and Coordinating Minister for Economic Policies Heng Swee Keat, announced at the Singapore Asian Tech Conference the launch of the “upgraded version of the National Quantum-Safe Network Plus” (NQSN+). This initiative aims to empower businesses to leverage quantum security technology, further enhancing the protection of critical infrastructure and countering increasingly complex cybersecurity threats. The potential of quantum technologies has prompted Singapore to invest more than $250 million in quantum research since 2007. In 2022, Singapore established the similarly named National Quantum-Safe Network – a collaboration among industry players to conduct nationwide trials […]
2023-06-09
On June 5, 2023, Ahead of Asia Tech x Singapore (ATxSG), the region’s most influential technology event, Mrs. Josephine Teo, Singapore’s Minister for Communications and Information launched Singapore’s Digital Connectivity Blueprint (DCB) that sets the direction for the next bound of Singapore’s digital connectivity. Singapore’s Infocomm Media Development Authority (IMDA) has also partnered Amazon Web Services AWS to launch a Joint Innovation Centre (JIC), a first-in-Southeast Asia and IMDA has also appointed 18 high potential tech professionals as SG Digital Leaders under the SG Digital Leadership Accelerator. Developed in consultation with the Advisory Panel on Digital Infrastructure, co-chaired by Dr. […]
2023-06-06
On June 1, 2023, The Jobs Transformation Map (JTM) for Retail was launched by Minister for Manpower and Second Minister for Trade and Industry Dr Tan See Leng, as a guiding resource to help retail companies plan for the future and ensure that their workforce is equipped with the necessary skillsets to meet evolving business needs. The JTM was jointly developed by Enterprise Singapore (ESG) and Workforce Singapore (WSG) with the Ministry of Manpower, and supported by SkillsFuture Singapore (SSG), following the roll-out of the Retail Industry Transformation Map (ITM) 2025 in October last year. At the launch event, three […]